The Preferred Apartment Communities, Inc.'s Board of Directors increased its size from eight to nine members, effective September 1, 2014, and appointed Joel T. Murphy, to the Board, effective September 1, 2014 to serve until the next annual meeting of the company's stockholders in 2015 and until his successor is duly elected and qualified, or upon the earlier of his death, resignation or removal. Mr. Murphy will not be appointed to any Board committee. Mr. Murphy was May 2010 to the present, as Managing Partner of Paces Andrews Associates; from January 2011 to December 31, 2013, as Principal of Iron Tree Capital LLC; and from August 2012 to July 31, 2014, as Chief Executive Officer of Iron Tree Retail LLC.